The internal tourism consumption of passenger transport services in the US exhibited significant variability over the past decade, peaking in 2019 at $418.39 billion before plummeting to $202.41 billion in 2020 due to pandemic-related disruptions. The market rapidly rebounded in subsequent years, reaching $395.49 billion in 2022 and standing at $452.21 billion in 2023. The year-on-year variation for 2023 was 14.34%, reflecting robust recovery. The CAGR over the last five years was 3.02%, indicating moderate long-term growth.
Future trends to watch for include technological advancements in transportation, shifts in consumer preferences towards sustainable travel, and economic factors influencing disposable income and travel behavior. These elements will likely drive steady growth, projected to have a modest CAGR of 1.8% over the next five years.
